Slump in financial services jobs
Job growth has slumped for the banking and financial services sector, reporting a two per cent drop in job ads during December 2014 to December 2015, according to Seek.
The agency also found a drop in accounting (three per cent) and insurance and superannuation (four per cent) jobs over the same period.
Contrary to these findings, the latest Hays Quarterly Report found in New South Wales the number of available jobs was on the rise across the temporary and contract space, and for replacement hiring.
"We have noted particular growth in temporary accounting support roles particularly across credit and payroll," the report said.
In Victoria, the oil and gas and energy sector redundancies were still occurring for accounting and financial professionals, particularly account receivable officers.
Qualified experienced candidates in financial services were found to be in very short supply in the Northern Territory.
"…particularly certified financial planners (CFP). Employers are no longer willing to grow their own CFPs and invest in training entry level staff only to see them move interstate once certified. Financial planners already in jobs will not consider a new opportunity unless the offer is too good to refuse," the report said.
However, Hays found accounting professionals with technology skills around using data to understand and improve the business would be in high demand over the January to March 2016 quarter.
"Financial analysts across commercial, business and financial and business analysts (BA) are both in solid demand. BAs are needed to provide insights into how the business is performing and can position for growth and financial analysts are sought to reconcile systems and information," it said.
"At the more senior end of the market, management accountants are being recruited to analyse forecasts and budgets. Senior financial accountants are also sought to act as the second in command to the chief financial officer, but they are in short supply.
"Financial accountants are also needed to provide assistance with half-year end and then year-end results."
Despite Seek's finding that insurance jobs were in the negative, Hays said this quarter would see an uptick in hiring with assistant account executives, account executives, and senior life underwriters in high demand.
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